OFG Bancorp (NYSE:OFG) Stock

OFG Bancorp

OFG Bancorp is a financial holding company, through its subsidiaries provides banking and financial services. It operates through three segments namely Banking, Wealth Management, and Treasury. It serves to clients such as commercial, consumer, auto, and mortgage lending, checking and savings accounts, financial planning, insurance, financial services, and investment brokerage, and corporate and individual trust and retirement services. It provides services in the region of Puerto Rico.

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OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) today announced its Board of Directors increased the regular quarterly cash dividend by 20% to $0.30 per common share from $0.25 per share, for the quarter ending March 31, 2025, as part of OFG's capital actions this year. The dividend is payable April 15, 2025, to holders of record at March 31, 2025.

Dividends

OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend From $0.25 To $0.30 Per Share

Across the recent three months, 5 analysts have shared their insights on OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">5</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $50.0, with a high estimate of $55.00 and a low estimate of $45.00. Surpassing the previous average price target of $48.80, the current average has increased by 2.46%.
<img src="https://www.benzinga.com/files/images/story/2025/1737655248_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of OFG Bancorp's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Kelly Motta</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$55.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$45.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Kelly Motta</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$53.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$49.00</td>
<td>$48.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to OFG Bancorp. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of OFG Bancorp compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of OFG Bancorp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of OFG Bancorp's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/OFG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on OFG Bancorp analyst ratings.</a>
<h2>Delving into OFG Bancorp's Background</h2>
OFG Bancorp is a financial holding company, through its subsidiaries provides banking and financial services. It operates through three segments namely Banking, Wealth Management, and Treasury. It serves to clients such as commercial, consumer, auto, and mortgage lending, checking and savings accounts, financial planning, insurance, financial services, and investment brokerage, and corporate and individual trust and retirement services. It provides services in the region of Puerto Rico.
<h3>OFG Bancorp: A Financial Overview</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Over the 3 months period, OFG Bancorp showcased positive performance, achieving a revenue growth rate of 2.24% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 28.71%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): OFG Bancorp's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.69%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.41%, the company showcases effective utilization of assets.
Debt Management: OFG Bancorp's debt-to-equity ratio is below the industry average at 0.22, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Significance of Analyst Ratings Explained</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

5 Analysts Have This To Say About OFG Bancorp

Wells Fargo analyst Timur Braziler maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Overweight and raises the price target from $45 to $48.

Price Target

Wells Fargo Maintains Overweight on OFG Bancorp, Raises Price Target to $48

Keefe, Bruyette &amp; Woods analyst Kelly Motta maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Outperform and raises the price target from $53 to $55.

Keefe, Bruyette & Woods Maintains Outperform on OFG Bancorp, Raises Price Target to $55

OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) reported quarterly earnings of $1.09 per share which beat the analyst consensus estimate of $0.96 by 13.54 percent. This is a 11.22 percent increase over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $149.138 million which beat the analyst consensus estimate of $147.401 million by 1.18 percent. This is a 3.93 percent increase over sales of $143.500 million the same period last year.

Earnings

Earnings Beats

OFG Bancorp Q4 2024 GAAP EPS $1.09 Beats $0.96 Estimate, Sales $149.138M Beat $147.401M Estimate

<h3>Companies Reporting Before The Bell</h3>
• HDFC Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDB#NYSE">HDB</a>) is projected to report quarterly earnings at $0.49 per share on revenue of $422.93 billion. 
• Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) is likely to report quarterly earnings at $6.61 per share on revenue of $10.80 billion. 
• Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) is projected to report quarterly earnings at $1.86 per share on revenue of $21.59 billion. 
• Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) is projected to report quarterly earnings at $1.26 per share on revenue of $837.57 million. 
• GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) is expected to report quarterly earnings at $2.37 per share on revenue of $10.70 billion. 
• Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is likely to report quarterly earnings at $2.02 per share on revenue of $22.45 billion. 
• Textron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $3.27 billion. 
• Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) is projected to report quarterly earnings at $5.23 per share on revenue of $1.45 billion. 
• TE Connectivity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEL#NYSE">TEL</a>) is projected to report quarterly earnings at $1.89 per share on revenue of $3.91 billion. 
• OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) is projected to report quarterly earnings at $0.96 per share on revenue of $176.15 million. 
• F N B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $408.00 million. 
• LG Display Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPL#NYSE">LPL</a>) is projected to report quarterly earnings at $0.01 per share on revenue of $5.87 billion. 
• HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) is likely to report quarterly earnings at $0.58 per share on revenue of $57.48 million. 
• Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is estimated to report quarterly earnings at $0.70 per share on revenue of $5.63 billion. 
• BankUnited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $261.25 million. 
• United Community Banks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) is likely to report earnings for its fourth quarter. 
• Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is projected to report quarterly earnings at $1.34 per share on revenue of $11.04 billion. 
• Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $417.18 million. 
• Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is expected to report quarterly earnings at $0.64 per share on revenue of $2.01 billion. 
• Amphenol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $4.06 billion. 
<h3>Companies Reporting After The Bell</h3>
• Triumph Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFIN#NASDAQ">TFIN</a>) is likely to report quarterly earnings at $0.25 per share on revenue of $108.44 million. 
• Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is projected to report quarterly earnings at $1.63 per share on revenue of $3.98 billion. 
• Origin Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OBK#NYSE">OBK</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $87.75 million. 
• Old Second Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSBC#NASDAQ">OSBC</a>) is likely to report quarterly earnings at $0.48 per share on revenue of $59.62 million. 
• Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) is estimated to report quarterly earnings at $0.55 per share on revenue of $156.42 million. 
• First Internet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INBK#NASDAQ">INBK</a>) is expected to report quarterly earnings at $0.91 per share on revenue of $24.88 million. 
• NVE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVEC#NASDAQ">NVEC</a>) is estimated to report earnings for its third quarter. 
• Univest Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UVSP#NASDAQ">UVSP</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $73.45 million. 
• SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) is likely to report quarterly earnings at $1.53 per share on revenue of $156.30 million. 
• Cohen &amp; Steers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) is projected to report quarterly earnings at $0.81 per share on revenue of $140.72 million. 
• Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $4.13 billion. 
• Knight-Swift (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $1.88 billion. 
• Equity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQBK#NYSE">EQBK</a>) is estimated to report quarterly earnings at $0.91 per share on revenue of $55.96 million. 
• RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) is expected to report quarterly earnings at $1.04 per share on revenue of $435.02 million. 
• CACI International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CACI#NYSE">CACI</a>) is expected to report quarterly earnings at $5.23 per share on revenue of $2.02 billion. 
• Eagle Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NASDAQ">EGBN</a>) is estimated to report quarterly earnings at $0.49 per share on revenue of $74.67 million. 
• Hexcel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $480.50 million. 
• National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) is likely to report quarterly earnings at $0.79 per share on revenue of $107.38 million. 
• QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) is projected to report quarterly earnings at $1.73 per share on revenue of $96.56 million. 
• Cathay General (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATY#NASDAQ">CATY</a>) is projected to report quarterly earnings at $1.09 per share on revenue of $185.11 million. 
• Bankwell Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWFG#NASDAQ">BWFG</a>) is projected to report quarterly earnings at $0.65 per share on revenue of $22.12 million. 
• Third Coast Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBX#NASDAQ">TCBX</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $41.96 million. 
• Plexus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLXS#NASDAQ">PLXS</a>) is projected to report quarterly earnings at $1.55 per share on revenue of $980.53 million. 
• Live Oak Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>) is expected to report quarterly earnings at $0.54 per share on revenue of $131.10 million. 
• Amerant Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTB#NYSE">AMTB</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $100.68 million. 
• Horizon Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBNC#NASDAQ">HBNC</a>) is likely to report quarterly earnings at $0.37 per share on revenue of $62.78 million. 
• Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>) is expected to report quarterly earnings at $0.68 per share on revenue of $457.77 million. 
• Colony Bankcorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBAN#NYSE">CBAN</a>) is projected to report quarterly earnings at $0.34 per share on revenue of $28.90 million. 
• Banner (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BANR#NASDAQ">BANR</a>) is estimated to report quarterly earnings at $1.21 per share on revenue of $156.09 million. 
• Alcoa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) is projected to report quarterly earnings at $0.91 per share on revenue of $3.29 billion. 
• Discover Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) is estimated to report quarterly earnings at $3.26 per share on revenue of $4.39 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For January 22, 2025

Wells Fargo analyst Timur Braziler maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Overweight and lowers the price target from $49 to $45.

Wells Fargo Maintains Overweight on OFG Bancorp, Lowers Price Target to $45

Several companies could be affected by a widespread power outage <a href="https://www.benzinga.com/topic/puerto-rico">Tuesday in Puerto Rico</a>.
What Happened: Only around 12% of Puerto Rico&#8217;s residents currently have electricity, <a href="https://miluma.lumapr.com/outages/serviceStatus">according</a> to Luma Energy, the power company servicing the island.
In a post on X, Luma Energy <a href="https://x.com/lumaenergypr/status/1874081905856885124">said</a> the outage began at 5 a.m. on Tuesday and resulted from &#8220;a fault on an underground line.&#8221; The company gave an estimate of 24 to 48 hours for power to be restored.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Declaraciones (8:30 a.m.): LUMA activa operaciones de emergencia para restaurar la energía después de un apagón en todo el sistema   LUMA ha activado su Centro de Operaciones de Emergencia y actualmente está trabajando con Genera y demás colaboradores de generación para reiniciar…
&mdash; LUMA Puerto Rico (@lumaenergypr) <a href="https://twitter.com/lumaenergypr/status/1874081905856885124?ref_src=twsrc%5Etfw">December 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Power outages in Puerto Rico, a U.S. territory, have <a href="https://www.benzinga.com/general/movers-shakers/23/01/30481980/when-a-storm-leaves-you-without-power-for-days-what-do-you-do-yousolar-is-developing-solut">become more prevalent</a> in recent years after Hurricane Maria weakened the island&#8217;s electrical grid. The territory controversially privatized energy generation in 2023, giving control of power operations to Genera PR.
Puerto Rican Governor Pedro Pierluisi&nbsp;voiced displeasure with the companies&#8217; handling of the outage in a <a href="https://x.com/GovPierluisi/status/1874058818612527451">post</a> on X.
&#8220;We are demanding answers and solutions from both LUMA and Genera, who must expedite the restart of the generating units outside the fault area and keep the people duly informed about the measures they are taking to restore service throughout the Island.&#8221;
Companies Affected: LumaEnergy is a joint venture between Quanta Services Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>), an American infrastructure company, and ATCO, a Canadian company. Genera is a subsidiary of New Fortress Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>).
Several other publicly traded companies have operations in Puerto Rico.
Financial services companies Popular Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>), OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) and First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) service the island. Financial technology company Evertec Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVTC#NYSE">EVTC</a>) is based in San Juan.
Medical supply company Baxter International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) <a href="https://www.baxter.com/perspectives/community-engagement/global-response-hurricane-maria">manufactures</a> MINI-BAG and MINI-BAG Plus container systems in Puerto Rico. Honeywell International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), a manufacturing conglomerate, also has operations on the island.
Since Tuesday is New Year&#8217;s Eve, companies may be less exposed to the outage, as operations may have wound down due to the holiday. Still, repeated outages may prove harmful to Puerto Rico&#8217;s economy.
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Keefe, Bruyette &amp; Woods analyst Kelly Motta maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Outperform and raises the price target from $49 to $53.

Keefe, Bruyette & Woods Maintains Outperform on OFG Bancorp, Raises Price Target to $53

Wells Fargo analyst Timur Braziler maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Overweight and raises the price target from $48 to $49.

Wells Fargo Maintains Overweight on OFG Bancorp, Raises Price Target to $49

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) today announced its Board of Directors approved a new $50 million stock repurchase authorization plan as part of OFG's capital actions. The new plan, which is open-ended, is in addition to the previously authorized stock repurchase plan.

Buybacks

OFG Bancorp Announces New $50M Share Repurchase Plan

Piper Sandler analyst Frank Schiraldi maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Overweight and lowers the price target from $49 to $47.

Piper Sandler Maintains Overweight on OFG Bancorp, Lowers Price Target to $47

OFG Bancorp shares are trading lower after the company reported worse-than-expected Q3 financial results.

OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) reported quarterly earnings of $1.00 per share which missed the analyst consensus estimate of $1.02 by 1.96 percent. This is a 5.26 percent increase over earnings of $0.95 per share from the same period last year. The company reported quarterly sales of $147.80 million which missed the analyst consensus estimate of $163.51 million by 9.61 percent. This is a 4.23 percent increase over sales of $141.80 million the same period last year.

Earnings Misses

OFG Bancorp Q3 EPS $1.00 Misses $1.02 Estimate, Sales $147.80M Miss $163.51M Estimate

OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) is preparing to release its quarterly earnings on Wednesday, 2024-10-16. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect OFG Bancorp to report an earnings per share (EPS) of $1.02.
Investors in OFG Bancorp are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings Track Record</h3>
The company's EPS beat by $0.12 in the last quarter, leading to a 1.53% increase in the share price on the following day.
Here's a look at OFG Bancorp's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.96</td>
<td>0.95</td>
<td>0.93</td>
<td>0.94</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.08</td>
<td>1.05</td>
<td>0.98</td>
<td>0.95</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>4.0%</td>
<td>4.0%</td>
<td>-4.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729004558_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of OFG Bancorp were trading at $44.41 as of October 14. Over the last 52-week period, shares are up 50.73%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/OFG/earnings">To track all earnings releases for OFG Bancorp visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For OFG Bancorp

Piper Sandler analyst Frank Schiraldi assumes OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Overweight rating and announces Price Target of $49.

Initiation

Piper Sandler Assumes OFG Bancorp at Overweight, Announces Price Target of $49

Wells Fargo analyst Timur Braziler maintains OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) with a Overweight and raises the price target from $40 to $48.

Shares of Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) rose sharply in today's pre-market trading after Woodside Energy announced plans to acquire the company for $900 million <a href="https://www.benzinga.com/quote/TELL/news">in all-cash deal</a>.
The implied enterprise value is around $1,200 million.
Tellurian shares jumped 65% to $0.9422 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) rose 43.8% to $0.1495 in pre-market trading after jumping more than 12% on Friday. Netcapital, last week, announced the launch of the beta version of its secondary trading platform.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) gained 36.8% to $10.33 in pre-market trading. Serve Robotics shares jumped 187% on Friday after Nvidia in a Form4 filing disclosed a stake in the company.</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) shares climbed 29.2% to $1.90 in pre-market trading after gaining around 228% on Friday.</li>
<li>CISO Global Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISO#NASDAQ">CISO</a>) gained 28.6% to $0.7653 in pre-market trading. CISO Global announced a comprehensive solution to mitigate impact of recent security incident involving CrowdStrike and Microsoft.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) shares gained 21.8% to $1.34 in pre-market trading.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 18.7% to $0.3798 in pre-market trading.</li>
<li>TuanChe Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TC#NASDAQ">TC</a>) shares gained 16.8% to $1.80 in pre-market trading after falling 6% on Friday.</li>
<li>Twin Vee Powercats Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEE#NASDAQ">VEEE</a>) rose 15.3% to $0.5590 in pre-market trading. Twin Vee PowerCats, last week, named Karl Zimmer as President.</li>
<li>OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) shares surged 14.5% to $49.99 in pre-market trading. The company, last week, posted downbeat quarterly sales.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) shares fell 23.4% to $0.41 in pre-market trading after surging 76% on Friday.</li>
<li>Portage Biotech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) shares fell 12.2% to $0.2010 in pre-market trading after gaining around 25% on Friday.</li>
<li>Ryanair Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) shares fell 11.6% to $101.10 in pre-market trading after the company said profits dipped 46% to 360 million euros (£303 million) for the three months to June 30.</li>
<li>Stronghold Digital Mining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDIG#NASDAQ">SDIG</a>) shares declined 11.3% to $3.61 in pre-market trading after gaining over 9% on Friday.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares fell 9.8% to $0.1531 in pre-market trading after dipping around 22% on Friday.</li>
<li>Novo Integrated Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) fell 9.8% to $0.60 in pre-market trading. Novo Integrated Sciences shares gained 10% on Friday after the company announced that it received notice of the commencement of disbursement for the complete monetization of a Standby Letter of Credit and monetization program.</li>
<li>Safe and Green Development Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGD#NASDAQ">SGD</a>) shares declined 8.6% to $0.33 in pre-market trading after falling 8% on Friday.</li>
<li>Virios Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRI#NASDAQ">VIRI</a>) fell 8.4% to $0.2306 in pre-market trading after declining over 4% on Friday.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) shares dipped 7.1% to $1.70 in pre-market trading after falling around 25% on Friday. Salarius Pharmaceuticals was recently notified by MD Anderson Cancer Center of a Grade 4 adverse event in the Seclidemstat clinical trial.</li>
<li>NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) shares fell 7% to $1.11 in pre-market trading after gaining 7% on Friday. NKGen Biotech, last week, announced it will present new SNK01 biomarker data at the Alzheimer&#8217;s Association International Conference.</li>
</ul>
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OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) reported quarterly sales of $147.325 million which missed the analyst consensus estimate of $152.564 million by 3.43 percent. This is a 5.53 percent increase over sales of $139.600 million the same period last year.

OFG Bancorp Q2 2024 Sales $147.325M Miss $152.564M Estimate

Press Releases

OFG Bancorp Reports 2Q24 Results

OFG Bancorp Declares Regular Quarterly Common Stock Cash Dividend

OFG Bancorp to Report 3Q24 Results and Hold Call Wednesday, October 16, 2024

OFG Bancorp Reports 3Q24 Results

OFG Bancorp to Ring Opening Bell to Celebrate 60th Anniversary and 30th Year Listing on NYSE

OFG Bancorp Announces New $50 Million Share Repurchase Plan

OFG Bancorp Declares Regular Quarterly Common Stock Dividend

OFG Bancorp to Report 4Q24 Results and Hold Call Wednesday, January 22, 2025

OFG Bancorp Reports 4Q24 & 2024 Results

OFG Bancorp Increases Regular Quarterly Common Stock Cash Dividend to $0.30

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